Rupee steady versus dollar in morning trade

Rupee steady versus dollar in morning trade
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First Published: Fri, Oct 12 2007. 12 23 PM IST
Updated: Fri, Oct 12 2007. 12 23 PM IST
PTI
Mumbai: The rupee showed a steady trend on 12 October after resuming on a promising note against the US currency, affected by weakness in Asian equity markets.
In dull trade at the Interbank Foreign Exchange (forex) market, the local currency resumed higher at 39.28/30 a dollar from the last close of 39.30/31, but later came under pressure and was quoted at 39.32/33 a dollar in late morning deals.
The rupee shed initial gains and showed signs of weakness following a sharp fall in value of shares this morning.
The benchmark Sensex tumbled by about 178 points in early trade after a strong three-day rally.
The activity was at low ebb in the absence of any major market moving factor, forex dealers said.
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First Published: Fri, Oct 12 2007. 12 23 PM IST